Greece’s Minister of National Economy and Finance, Kyriakos Pierrakakis, has submitted a request to the European Commission to expand the scope of the existing National Escape Clause so that it also covers measures aimed at strengthening the country’s energy resilience.
The proposed investments are expected to exceed 1 billion euros by 2028 and will be financed through national resources. Under the request, these expenditures would be exempt from the European Union’s ceiling on the growth of net primary expenditure, up to 0.3% of GDP annually and 0.6% cumulatively through 2028. The spending, however, will continue to be reflected in Greece’s primary fiscal balance and public debt.
According to the European Commission, the option is available under the planned expansion of the existing National Escape Clause for defence spending to also include investments that enhance the resilience of the European energy system and accelerate the transition away from fossil fuels.
The request is part of the broader strategy, led by Prime Minister Kyriakos Mitsotakis, to strengthen the country’s energy resilience within the European framework.
Planned investments are expected to include renewable energy storage projects, energy efficiency initiatives, building renovation and energy upgrades, as well as infrastructure projects designed to improve the country’s overall energy resilience.
The government said the specific investment projects will be determined in the coming months in cooperation with the relevant ministries.
